I believe that the most important person to talk to if you are in financial trouble with a property is an educated REALTOR.  Notice I use the qualifier educatedthe reality is that the vast majority of agents are not experienced in working with homeowners experiencing financial distress however those that are can give you concise and valuable information on your options as a homeowner. 

You do have options.

Regardless if you are:

• Facing Foreclosure
• Just received Notice of Lis Pendens or Notice of Default
• Are considering bankruptcy
• Are upside down on your house or owe more than it is worth
• Have a damaged property
• Lost your job
• Are getting divorced

Or any other reason you are distressed find an educated agent to give you options.  Many times the homeowners we have met with actually do have equity and we can help them access it and solve their issues, you may be in this situation and not even know it.

How do you find an educated agent....

Ask.

Qualify the agent with these questions:

What is the foreclosure process in (insert your state here)?
The agent should be able to give you an exact answer as to how the process works and how you cna work together to slow it down.

How many distressed sales have you closed?
Th agent should be able to give you a number and tell you of their successes. 

How many distressed homeowners are you currently working with?
You want to know what kind of experience an agent has and you probably do not want to be the only distressed homeowner they are working with unless they have a great answer to the next question.

Waht kind of Distressed education do you have?
If the agent has taken the time and money to get an education in foreclosures, short sale, and other distressed issues then they are probably a good bet for you to work with.

Don't Loose Hope!

My wife and I work with hundreds of distressed homeowners each year and for the vast majority of them there are options and we can help them. 

Alex Charfen
www.charfenteam.com
www.1cdpe.com